Financial Services Cloud Council and Forum

For those who have not been paying attention to what has been happening with SCOTUS - the Supreme Court's decision to overturn the Chevron doctrine etc. means that we in the financial services industry (in the US) may be looking at a period of not just increased legal activity and regulatory uncertainty but fundamental changes in how financial regulations are developed, implemented, and challenged.  Moreover because of all of the changes with Data privacy and security being compounded by the combination of DORA and the EU AI Act very few have been thinking through the implications globally.  The immediate reactions from many of the financial institutions I have spoken with in the past few weeks citing their institution's "hunkering down", "reducing regtech spending" and "placing greater importance on the precise wording of financial statutes" is alarming.  Counter-intuitively this is the time for financial institutions to be more vocal and increase their lobbying efforts to influence the drafting of new legislation, pushing for greater clarity, precision and a more synoptic view of the global financial markets.